As I recall, when the Soviet Union broke up (peacefully, for the most part), Russia agreed to hold all foreign debt, but in return, took possession of all nuclear bombs situated on the seceeding nations’ territory.
I don’t see why a similar arrangement couldn’t work here.
A lot of the national debt is owed to foreign bond holders, including governments. Ethics of default aside, however, if the debt was repudiated, they’d have a hard time collecting much of it. But they’re getting screwed anyway as the Fed practices default by inflation – er, excuse me, quantitative easing.
How does Russia deal with secession? I’m not taking a side for a moment. Let’s just notice the schadenfreud from KGB and the gross hypocrisy. Russia not only won’t let non-Slavic territory go, but they are irridentist and revanchist.
It’s true that most of the debt is to private American investors, but as you say, much is owed to our GOOD FRIENDS the ChiComs.
In addition to allowing the rump DC Empire to take military assets located in the territory of seceeding States, claims to national assets, such as infrastructure all taxpayers have helped pay for over the years, can be traded as well. Same for claims to national parks, etc.
At its peak, the Russian empire included Finland, most of Poland, Alaska, and a foothold in northern California. Much of the empire was peacefully if grudgingly given up. I’d agree that it would be a good idea for Russia to give up the non-Russian Caucasian parts of the current empire. These are pretty much a nuisance anyway. But the US evil empire has no moral authority to lecture the Russians on this. And I don’t see the Russian government as being either irredentist or revanchist other than in the fantasies of the neo-cons.